economic calendar predictions?

[byou86]

have the economic predictions been on the home page for awhile? if so, i have just noticed them. i was wondering if anybody has been demo or live trading its suggestions? if so, how accurate or they at predicting future economic releases? any feedback please

[scorpion]

I'm working on the accuracy of the prediction in detail. No verdict yet but it appears that predictions on USA Employment Situation are correct 9 out of 10 times, and each correct prediction makes you around 100 pips in EURUSD. However, employment situation data is released once a month on the first Friday, so this statistics is based on too little data.

The mini prediction on forum page forecasts the next indicator. If you want to see all indicators past and future, you should use the full economic calendar.

[Cartoon]

Wah.....!!! it finally came real time prediction... and the count down timer too..... COOL....!!!

[scorpion]

Hey toon, thanks for compliment. Nice to hear you guys like it.

I'm still working on the forecast algorithm, in fact the calendar is still in beta. So you might not want to gamble real money with it, not until it's more reliable.

[gazuz]

One of last week's thursday's trade was way off and I was quite dissapointed because it was the only one I would have looked at.. Too bad brokers cant catch up to real time trading here.. because if my stop loss and take profit would be hit where i want it, this could be a very very very powerful tool.

Props on the countdown timer on the left by the way I really like it.. but a comment would be: is it possible to get the strength fo the market? the colored dots i liked because a chart going down and 80 pips doesnt tell me as much as the big warning red or mellow yellow dot. Let me know what you think and im interested in knowing if there are any reasons why you decided not to put it there

[sadb]

Can yuo help me? I'm newbei and I dont understand something.
The direction signal in prediction, what does it mean? Does it Show(predict) a way the chart will go or does it predict, for example if it's up , that the curency will go stronger?

[scorpion]

Originally Posted by gazuz

One of last week's thursday's trade was way off and I was quite dissapointed because it was the only one I would have looked at.. Too bad brokers cant catch up to real time trading here.. because if my stop loss and take profit would be hit where i want it, this could be a very very very powerful tool.

Props on the countdown timer on the left by the way I really like it.. but a comment would be: is it possible to get the strength fo the market? the colored dots i liked because a chart going down and 80 pips doesnt tell me as much as the big warning red or mellow yellow dot. Let me know what you think and im interested in knowing if there are any reasons why you decided not to put it there

Gaz, i'll be updating forecast algorithm tomorrow. After a long week of testing, I came up with new rules that will improve impact forecast.

In demo account, alpari honored an order (entry and tp) while price was moving fast. Seems like we have some hope here to execute after news is released.

I killed some elements in mini forecast for the sake of usability. But i'm thinking of reintroducing them back. I might not be able to put the volatility dots in mini forecast, but will clear text like HIGH, LOW, MEDIUM work for you?

[scorpion]

Originally Posted by sadb

Can yuo help me? I'm newbei and I dont understand something.
The direction signal in prediction, what does it mean? Does it Show(predict) a way the chart will go or does it predict, for example if it's up , that the curency will go stronger?

It predicts the direction of future price action on 5M chart. I should put 5M somewhere in the title but there's no space. I'm gonna do something about this, thanks for feedback, man!

So if the chart shows price moving up, the prediction is: price will go up starting when the countdown timer hits 0h 0h 0s.

[gazuz]

No problem, HIGH MEDIUM and LOW are perfect.. Its just that I wasn't completely sure that the pips take profit was directly related to the volatility

[scorpion]

"Take profit" here is the pips that price will have moved to the predicted direction. If you trade right on release time, set your TP to this number to max your profit. I refer "Volatility" to the degree of up & down movement, how violent the price is. But I often think they're interchangeable. If volatility increases, you should take more profit.

At the time I created the calendar, I focused on my news trading system: Open trade just minutes before data is release and set SL and TP to the expected volatility. I designed the calendar based on the assumption that everyone knew the system. And so the future chart, for example, is not described as "future 5M chart which starts ticking when the data is released".